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3/22/2016 3:10:04 AM

EURUSD amid positive outlook - Technical Analysis 22-03-2016



EURUSD is trying to gather positive momentum in the intraday levels with a gradual decline under the overall dominance of the upward short-term trend, with the pair trading within an ascending price channel that limited its previous movements as shown in the attached chart, hinting at forming a positive technical pattern complimentary to that upward trend, the Flag pattern, coinciding with the start of a forming positive divergence in the Stochastic indicator as shown below the attached chart, with ongoing positive support from the SMA50.  

Therefore we expect more gains to come for the pair, targeting the pivotal resistance of 1.1376, readying to attack it.


Target
Risk


Support
Resistance


Trend Bullish

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